RS and UT; commercial and industrial exemptions, disclosure of data center operator exemption.

Plain English Breakdown

The official source material does not provide specific details on the format or timing for publishing the annual report.

Data Center Tax Exemption Disclosure

This bill requires the Department of Taxation to publish an annual report about data center operators who receive retail sales and use tax exemptions, including details on the amount of exemption claimed, job creation goals met, employment levels, and average wages.

What This Bill Does

• Requires the Department of Taxation to make a yearly report on data center operators receiving retail sales and use tax exemptions.
• Includes the name of each data center operator receiving an exemption in the annual report.
• Lists how much money is saved by each data center due to the tax exemption.
• Checks if data centers are meeting their job creation goals as agreed.
• Reports employment numbers and average wages paid by these data centers.

Who It Names or Affects

• Data center operators who receive retail sales and use tax exemptions.
• The Department of Taxation, which must create the annual report.

Terms To Know

retail sales and use tax

A type of tax that is charged on goods and services sold to customers in a state.

data center operator

The company or organization that runs a data center, which stores and manages large amounts of digital information.

Limits and Unknowns

• Does not specify the exact format or timing for publishing the annual report.
• It does not address what happens if a data center fails to meet its job creation goals.

Official Summary Text

Retail sales and use tax; commercial and industrial exemptions; disclosure of data center operator exemption.
Requires the Department of Taxation to annually publish a report including the name of all data center operators receiving a retail sales and use tax exemption, and for each such data center operator, (i) the amount of exemption claimed, (ii) whether the required job creation and capital investments goals set by a data center operator's memorandum of understanding have been met, and (iii) its employment levels and average annual wages paid to its employees.

Current Bill Text

HB 784

SUBCOMMITTEE

1. Line 90, introduced, after
operators

insert

, their affiliates, and their tenants that are

SUBCOMMITTEE

2. Line 431, introduced, after
claimed

insert

by it, its affiliates, and its tenants